Plaza Wires IPO Price: ₹51 to ₹54 per share
IPO Date Range: Sep 29, 2023 - Oct 04, 2023
Plaza Wires Limited was incorporated in the year 2006. The company specializes in the manufacturing and selling of wires. Additionally, it markets and sells LT aluminium cables and fast-moving electrical goods (FMEG) under its flagship brand "PLAZA CABLES" and other home brands such as "Action Wires" and "PCG".
Plaza Wires offers a diverse range of products in the wires and cables segment. This includes house wires, single & multicore round flexible industrial cables, and industrial cables for submersible pumps & motors up to 1.1kv grade.
The company also provides other wires and cable products such as LT power control cables, TV dish antenna co-axial cables, telephone & switchboard industrial cables, computer & LAN networking cables, close-circuit television cables, and solar cables. Additionally, they offer PVC insulated tape and PVC conduit pipe & accessories, which third-party manufacturers produce.
In 2021, Plaza Wires expanded its product range by introducing miniature circuit breakers and distribution boards (DB) in India's northern and southern regions. The company also provides after-sales service for electric fans and has collaborations with over 20 service centres across various states in India.
As of March 31, 2023, Plaza Wires has a strong network with over 1249 authorized dealers and distributors. They have 3 branch offices in Rajasthan, Uttarakhand, and Uttar Pradesh, and 1 branch office cum godown in Maharashtra. The company also operates 4 warehouses in Uttar Pradesh, Assam, Kerala, and Delhi and has a C&F agent in Punjab.
| IPO Date | September 29, 2023 to October 4, 2023 |
| Listing Date | Thursday, October 12, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹51 to ₹54 per share |
| Lot Size | 277 Shares |
| Total Issue Size | 13,200,158 shares (aggregating up to ₹71.28 Cr) |
| Fresh Issue | 13,200,158 shares (aggregating up to ₹71.28 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 30,551,920 |
| Share holding post issue | 43,752,078 |
The minimum lot size to apply in this Plaza Wires Limited IPO consists of 277 shares, requiring an investment of ₹14,958.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 277 | ₹14,958 |
| Retail (Max) | 13 | 3601 | ₹194,454 |
| S-HNI (Min) | 14 | 3,878 | ₹209,412 |
| S-HNI (Max) | 66 | 18,282 | ₹987,228 |
| B-HNI (Min) | 67 | 18,559 | ₹1,002,186 |
| QIB Shares Offered | Not less than 75.00% of the Net offer |
| NII (HNI) Shares Offered | Not more than 15.00% of the Offer |
| Retail Shares Offered | Not more than 10.00% of the Offer |
| IPO Open Date | Friday, September 29, 2023 |
| IPO Close Date | Wednesday, October 4, 2023 |
| Basis of Allotment | Monday, October 9, 2023 |
| Initiation of Refunds | Tuesday, October 10, 2023 |
| Credit of Shares to Demat | Wednesday, October 11, 2023 |
| Listing Date | Thursday, October 12, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 4, 2023 |
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For the fiscal year ending March 31, 2023, the company reported assets worth ₹112.10 crores, revenue of ₹182.60 crores, and a profit after tax of ₹7.51 crores. The company's net worth stood at ₹53.08 crores.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 99.28 | 104.17 | 112.10 |
| Revenue | 145.60 | 176.94 | 182.60 |
| Profit After Tax | 4.24 | 5.95 | 7.51 |
| Net Worth | 39.48 | 45.52 | 53.08 |
| Reserves and Surplus | 35.66 | 14.96 | 22.53 |
| Total Borrowing | 43.30 | 40.09 | 39.68 |
The market capitalization of Plaza Wires Limited IPO stands at Rs 236.26 Crore, with a P/E ratio of 21.95.
| KPI | Values |
|---|---|
| P/E (x) | 21.95 |
| Market Cap (₹ Cr.) | 236.26 |
| ROE | 14.15% |
| ROCE | 15.57% |
| Debt/Equity | 0.75 |
| EPS (Rs) | 2.46 |
| RoNW | 14.16% |
Plaza Wires aims to channel the net proceeds from the IPO towards:
Prospectus: Official documents that provide detailed information about the IPO and the company. Plaza Wires IPO DRHP and Plaza Wires IPO RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"Plaza Wires" IPO is ₹51 to ₹54 per share.
The "Plaza Wires" IPO is expected to be listed on Thursday, October 12, 2023.
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